Category Archives: Black Swan Watch

Swan Lake – June 25

Posted on June 25, 2018 by macromon

The Global Macro Monitor defines “macro swan” as any global macroeconomic or financial event with the capacity to spill over into world markets causing risk aversion and lower asset prices.  – GMM The Swans were mixed today as the real action … Continue reading →

Posted in Black Swan Watch, Trade War, Uncategorized | Tagged , | Leave a comment

Swan Lake – June 21

Posted on June 21, 2018 by macromon

The euro periphery was rocked today by the rise to power of two populist Eurosceptic political powers, which has called into question the country’s membership in the euro.   Italian 10-year sovereign spreads out 22 bps.   Euro banks weaker EM EM … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , | 1 Comment

Swan Lake – June 20

Posted on June 20, 2018 by macromon

The Global Macro Monitor defines “macro swan” as any global macroeconomic or financial event with the capacity to spill over into world markets causing risk aversion and lower asset prices.  – GMM Another relatively quiet day on Swan Lake. Italian 2-year … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , | 3 Comments

Swan Lake – June 19

Posted on June 19, 2018 by macromon

Surprisingly few ripples on Swan Lake today. The Turkish lira, Argentine peso, and SA rand a bit weaker. We are stunned at the complacency in the markets given the hawkish Fed and now coupled with trade war jitters.   These are … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , , , | Leave a comment

Swan Lake – June 18

Posted on June 18, 2018 by macromon

Same story, different day. Euro periphery continues to recover with short-end outperforming. EM LatAm currencies stable x/ Brazil.   South Africa lower. Brazil and Mexican stocks lower.    

Posted in Black Swan Watch, Uncategorized | Tagged , , , | Leave a comment

Swan Lake – June 14

Posted on June 14, 2018 by macromon

The Global Macro Monitor defines “macro swan” as any global macroeconomic or financial event with the capacity to spill over into world markets causing risk aversion and lower asset prices.  – GMM The Euro periphery continued to rebound.  The big news … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , | 1 Comment

Swan Lake – June 13

Posted on June 13, 2018 by macromon

The Global Macro Monitor defines “macro swan” as any global macroeconomic or financial event with the capacity to spill over into world markets causing risk aversion and lower asset prices.  – GMM The Euro swans continue to stabilize.   Barry Eichengreen out … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , , , | Leave a comment

Swan Lake – June 12

Posted on June 12, 2018 by macromon

The Global Macro Monitor defines “macro swan” as any global macroeconomic or financial event with the capacity to spill over into world markets causing risk aversion and lower asset prices.  – GMM Euro sovereign spreads were stable today.  The Italy … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged , , , , | Leave a comment

Swan Lake – June 11

Posted on June 11, 2018 by macromon

We are not discussing any proposal to exit the euro. The government is determined to avoid the materialisation of market conditions that push us towards an exit in any way.  –  Giovanni Tria,  Italian finance minister, June 11 Italian and Euro … Continue reading →

Posted in Black Swan Watch, Eurozone Sovereign Spreads, Uncategorized | Tagged , , , , , , | Leave a comment

Swan Lake – June 7

Posted on June 7, 2018 by macromon

The swans were restless and a bit weaker today. Italy 10-year is blowing out again, now just ten bps below May 29th closing high of 3.16 percent.  The yield curve in Italy continues its re-flattening, as shorts seem to be … Continue reading →

Posted in Black Swan Watch, Uncategorized | Tagged | Leave a comment